AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 0.62002 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.62539 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.6217664 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 0.62539 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62211 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows